| Author |
 Replies: 48 / Views: 4,724 |
|
Pillar of the Community
United States
3789 Posts |
well just a quick note here. find it interesting that while the market is grinding higher, one sector is quietly making new 52 highs,,, including goldman sachs, and even banks such as BoA.
While most equities are moving higher and strength to be found in the market such as housing stocks and related stocks to that sector are doing well... and I can confirm market leadership and a current uptrend.. it is interesting that as my writing this the metals, gold and silver are not participating.
That said, I am seeing weakness in the commodity complex sans a few flat areas in refined product and crude.
|
|
|
|
Pillar of the Community
United States
3670 Posts |
Extra! Extra! Read all about it! Pmz plummet as expected heading towards the holidays.....
|
|
Pillar of the Community
United States
919 Posts |
Gold down $25 an oz and silver down $0.57 an oz as of 11am. I might get my wish to buy under $1600 and $30. Who knows, if this drop continues the selling might accelerate and we could see sub $1500 and $25 an oz.
|
|
Pillar of the Community
United States
3670 Posts |
I bet we see sub 1600 gold an sub 30 silver by New Year's Day, calling it now so we shall see.....
|
|
Pillar of the Community
United States
830 Posts |
Weird day, US dollar and gold both down sharply.
|
|
Pillar of the Community
United States
919 Posts |
I agree Silverhawk. I have a feeling we could go even lower. A lot of new investors were sold on gold at $1600-$1900 and silver at $35. Once the losses start to hit they are going to run. They saw the losses in the stock market in 2000 and 2008 and in housing in 2008-2009. I just don't think they are going to wait around to see big drops again. Maybe I'm wrong but the dealers I work with are all pushing gold coins on me. That tells me they don't want them either. I want to buy something they are actively buying not selling.
|
|
Pillar of the Community
United States
1195 Posts |
Fingers crossed, I might be buying on Friday if silver holds here, definately if a drop to sub-$30 comes and holds. I've got my eye on some more bullion coins and a piece of dark-side silver at my LCS.
|
|
Pillar of the Community
 United States
3789 Posts |
Yes as I see it, I see lower gold and silver prices in the coming weeks. Gold I can see easily if the selling picks up look at high 1500s.
And I forgot to mention, and was mentioned here the dollar is getting killed along with the long bond.
|
|
Valued Member
United States
344 Posts |
Of course it went down. I bought a lot it of on December 12, just before it started to slide. That's the way it goes sometimes. Hopefully, I'll have some Christmas $$$ left over to average it out.
|
|
Pillar of the Community
United States
830 Posts |
Looking at the price action today makes me think that getting a deal done on the fiscal cliff would be bad for PMs and good for stocks, at least in the very short term. Long term I'd think the opposite would be the case.  |
|
Pillar of the Community
United States
919 Posts |
Just my opinion but the day a deal is done you will see PMs drop (assuming the deal does something about long term debt). If a deal is done, I believe the dollar will move higher and that will bring PM's down. The question is how low will they go.
|
|
Pillar of the Community
1283 Posts |
I'll probably buy a few ounces of gold if it goes into the $1,590's. We'll see what happens.
Gold equals Awesomeness
|
|
Pillar of the Community
United States
919 Posts |
I have my eye on a Gold Buffalo proof. Hope I get a chance to buy.
|
|
Valued Member
United States
110 Posts |
Precious metals are on sale for a limited time, buy now while you can. The time limit is based sorely on the ability of the huge bullion banks, COMEX, etc to continue to manipulate the markets.
I'm a trader and follow the markets very closely. The markets on a macro scale are jittery.I think they're losing control. Keep your eye on China, they've been buying gold and silver as fast as they can. The official numbers are much lower than the actual tonnage leaving the west.
|
|
Pillar of the Community
Japan
666 Posts |
good I haven't bought not much silver last 30 days, just 10 oz ... looks like time to add big is coming, just along with my holiday silver/gold shopping season
|
|
Pillar of the Community
Canada
1723 Posts |
Lower prices are always a great opportunity to add to your stacks, lower your DCA and in the long term...turn just silver into premium stuff. Happy stacking you all. I'm basically out of the game until close to february so I need to live vicariously through you. Lost of pics!
Edited by samsnate
12/18/2012 6:45 pm
|
| |
Replies: 48 / Views: 4,724 |
Posted 12/18/2012 11:40 am
